Fifth Third Bank CD offers a few promotional CD rates that are competitive with even the best online banks, but its standard CD rates are low even by brick-and-mortar banking standards. Fifth Third CDs may be a great option for existing customers who could earn higher relationship CD rates, or customers who are willing to take advantage of non-standard promotional terms. Here's a closer look at Fifth Third Bank CD interest rates to see how they stack up against the best CDs and whether they might be right for you.
Fifth Third Bank CD rates for 2024
Rates as of June 7, 2024
APY = Annual Percentage Yield
Fifth Third Standard CD
MINIMUM DEPOSIT $500
6 Mo. APY | 1 Yr. APY | 1.5 Yr. APY | 2 Yr. APY | 3 Yr. APY | 4 Yr. APY | 5 Yr. APY |
---|---|---|---|---|---|---|
0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% |
Compare Fifth Third Bank CD rates
Fifth Third Bank's standard CD interest rates are comparable to those of traditional banks, but are much lower than the best CD rates. However, its promotional rates on certain CDs for high-balance customers are very competitive, even with the highest-paying online banks.
Compare some of our experts' favorite CD accounts with Fifth Third Bank CD interest rates below.
Rates as of June 7, 2024
Bank & CD Offer | APY | Term | Min. Deposit | Next Steps |
---|---|---|---|---|
Discover® Bank CD Member FDIC. | APY:4.70% | Term:1 Year | Min. Deposit:$2,500 | Open Account for Discover® Bank CD |
Western Alliance Bank CD | APY:5.25% | Term:1 Year | Min. Deposit:$1 | Open Account for |
Western Alliance Bank CD | APY:5.10% | Term:9 Months | Min. Deposit:$1 | Open Account for |
Fifth Third Bank CD review
Fifth Third Bank offers a standard CD with a variety of terms ranging from seven days to 84 months. For standard CDs, Fifth Third's APYs are extremely low, even by branch-based banking standards. However, there are promotional CD terms that require deposits of $5,000 or more that offer yields that rival the top online banks.
With that in mind, here are some pros and cons of Fifth Third bank to consider.
Fifth Third Bank CD rates
PROS:
- Low minimum deposit for standard CDs
- Flexible CD terms ranging from seven days to seven years
- Promotional CDs of five, nine, and 12 months with high APYs
CONS:
- Low APYs on standard CDs
- You'll need at least $5,000 to take advantage of a promotional CD rate
- CD accounts can't be opened online
- Early withdrawal penalties from 1%-3% of principal withdrawn, depending on term length.
Fifth Third's standard CDs have flexible terms, which range from seven days to seven years. Like most banks, Fifth Third CDs don't charge monthly fees. There's a minimum deposit of as little as $500 for many term lengths, although you'll need $5,000 to open a promotional-rate CD or one that's shorter three months.
However, Fifth Third's promotional CDs are worth a look if you have enough money to deposit, as its APYs rival even the best online banks. Promotional CD rates vary in availability by location, so visit Fifth Third's website to learn more.
Current customers with specific Fifth Third accounts may earn a higher relationship CD rate. Note Fifth Third CD accounts are opened in person, not online. If you're interested in taking advantage of Fifth Third Bank CD interest rates, you'll need to check to make sure you live near a branch.
Other Fifth Third Bank CD accounts
Fifth Third also offers the following CD accounts:
- 529 CD with terms from 3 months to 12 years.
Bottom line: Fifth Third CD rates
Fifth Third Standard CD
- 6 APY: 0.01%
- 12 APY: 0.01%
- 18 APY: 0.01%
- 24 APY: 0.01%
- 36 APY: 0.01%
- 48 APY: 0.01%
- 60 APY: 0.01%
Show All Rates [+]Hide All Rates [-]
Rates as of June 7, 2024
APY = Annual Percentage Yield
Term
Fifth Third Standard CD
6 Mo.
1 Yr.
1.5 Yr.
2 Yr.
3 Yr.
4 Yr.
5 Yr.
0.01%
0.01%
0.01%
0.01%
0.01%
0.01%
0.01%
Our CDs methodology
At The Motley Fool Ascent, certificates of deposit (CDs) are rated on a scale of one to five stars, primarily focusing on annual percentage yield (APY) and early withdrawal penalty fees. Our highest-rated CDs generally include competitive APYs without complex qualification tiers, low withdrawal fees, reliable brand trust and reputation, and ease of use.
Learn more about how The Motley Fool Ascent rates bank accounts.
FAQs
Fifth Third CDs are great for current Fifth Third bank customers who want to keep all of their funds with one bank, especially if they have one of the accounts with relationship benefits. They are ideal for people with at least $5,000 to commit who can take advantage of one of the bank's promotional CD offers.
Fifth Third offers flexible CD terms, including short- and long-term options not seen at most banks. It offers promotional CD rates for deposits of $5,000 or more on terms of five, nine, or 12 months.
Fifth Third standard CDs don't offer much earning potential, but its promotional CD rates on five, nine, and 12-month terms rival even the best online banks. Plus, opening a Fifth Third CD could be a smart move for current customers who qualify for higher relationship rates.